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i
<br />102773
<br />and and forming a part hereof, neither to remove nor permit the re-
<br />moval of any timber, buildings, oil, gas, minerals, stone, rock,
<br />clay, fertilizer, gravel or top soil without the prior written
<br />consent of Beneficiary; (d) to maintain and deliver to Benefi-
<br />ciary policies of insurance against such hazards on the buildings
<br />and improvements now or hereafter located on or constituting a
<br />part of the Property as the Beneficiary shall require, in such
<br />companies and amounts A-"a -ith such loss payable clauses as shall
<br />be satisfactory to the Beneficiary; that in the event of loss,
<br />Beneficiary is expressly authorized to settle or compromise
<br />claims under said policies and the proceeds thereof shall be paid
<br />to the Beneficiary who may apply the same or ,any part thereof on
<br />the indebtedness secured hereby or toward the reconstruction Or
<br />repair of said buildings and improvements or release same to the
<br />Trustor; •(e) to pay any lien, claim or charge against the Prop-
<br />erty which might take precedence over the lien hereof; (f) to
<br />pay on demand all legal expenses, title searches, appraisal or
<br />attorneys' fees reasonably incurred or paid by Beneficiary to
<br />collect the Note or foreclose or protect the lien of this Deed of
<br />Trust; (g) that in the event Trustor shall fail to comply with
<br />the provisions of (a) through (f) above, the Beneficiary may ex-
<br />pend such funds,and take such action as is .necessary to remedy
<br />such failure and all sums paid by the Beneficiary pursuant hereto
<br />with interest at the rate hereinafter provided shall constitxite a
<br />lien upon the Property, shall be secured by this Deed of Trust,
<br />and shall be immediately due and repayable to the Beneficiary;
<br />(h) not to sell the Property or any portion thereof; or, if the
<br />Trustor is a corporation, not more than per cent ( $)
<br />of its corporate stock shall be sold; traded -•nr di -posed —,of-to
<br />persons other than the present owners of such stock prior to the
<br />time the indebtedness secured hereby shall have been reduced
<br />(exclusive of prepayments other than as provided in the said
<br />Note) to zero dollars ($00.00); and in the event of any sale
<br />herein prohibited, then the entire indebtedness secured by this
<br />Deed of Trust shall, at the option of the Beneficiary, become due
<br />and payable; (i) that if the Property or any part or, parcel
<br />thereof shall be taken or damaged under the power of-eminent'do-
<br />main, the award for any Property so taken or damaged (including
<br />severance damages to the remaining premises) shall be paid to the
<br />Beneficiary and applied in full or in part at the option of the
<br />Beneficiary in reduction of the indebtedness hereby secured;, (7)
<br />that the Beneficiary shall have the right to inspect the Property
<br />at such reasonable times as the Beneficiary may desire to deter -
<br />mine Trustor's compliance with the covenants contained in this
<br />Deed of Trust; (k) that the Beneficiary may release from the
<br />lien hereof any part or parcel of the Property without requiring
<br />arty consideration therefor, and (1) that Trustor is lawfully
<br />seized of said premises and Property in fee simple, that the same
<br />are free from all liens and encumbrances except as may otherwise
<br />be specifically noted herein or waived_in writing by;the Benefi-
<br />ciary; that Trustor will execute or procure any further :neces-
<br />sary assurances,of title and does hereby warrant generally..`tbe
<br />'tittle to said Piaperty and will. forever defend the same against
<br />the claims and demands,.of all persons Whomsoever, and that
<br />Trustor's separate estate, whether vested, contingent or in ex-
<br />pectancy, is hereby conveyed and Trustor does hereby expressly
<br />waive, release all rights and benefits of any homestead, dower,
<br />cUrtesy, appraisement, exemption and stay laws of this state. it
<br />is agreed that the interest provided for in subsection (g) above
<br />shall be at the same rate as specified in the Note secured hereby
<br />on the principal thereof after default and maturity.
<br />SECOND: In the event Trustor, without the prior written
<br />Lconsent of Beneficiary shall sell, transfer or convey or contract
<br />to sell, transfer or convey the Property, or any part thereof or
<br />any interest therein, the Entire balance of the indebtedness
<br />hereby secured shall become and be immediately due and payable-
<br />thc' oWAOD of lieneficiary; provided, however, Mnefi( -j;,T ma,�
<br />w£llvr� zuch option to acr- r�lr•rj.rte if, 1,x-ior
<br />to rurh ;ilr, trnnr ;f� r
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